US media: Musk postpones plans to form a new political party, focusing on company affairs and maintaining relations with the Republican Party.

On August 20, Jin10 reported that the Wall Street Journal cited informed sources revealing that billionaire and Tesla CEO Elon Musk is quietly pausing plans to form a new political party. Musk told allies that he wants to focus on his company and is reluctant to alienate powerful Republicans by creating a third party that could siphon off Republican voter support. Musk’s stance marks a shift in position. Earlier last month, Musk stated that he would form a so-called American Party to represent American voters dissatisfied with the two major parties. In considering the formation of a new political party, Musk is partially focused on maintaining his relationship with Vice President Vance, who is widely regarded as a potential successor to the MAGA political movement. Informed sources say that Musk has been in contact with Vance in recent weeks, and he admitted to aides that continuing to form a party would damage his relationship with the Vice President.